Fiskaragung's profit increases by 310%<\/p>\n
JAKARTA (JP): PT Fiskaragung Perkasa, a newly-listed salt
\nproducer, announced yesterday a Rp 49 billion (US$20 million) net
\nprofit for the first nine months of this year, a 310 percent
\nincrease over the same period last year.<\/p>\n
\"Based on the nine-month profit figure, we expect to surpass
\nour 1996 profit projection of Rp 70 billion by at least 10
\npercent,\" Fisakaragung's finance director Ernas Krisna Mulya said
\nyesterday.<\/p>\n
Ernas said profit was up because the average price of the
\ncompany's iodized salt had risen from Rp 739 a kilo in the
\nJanuary-September period last year to Rp 1,348 a kilo in the same
\nperiod this year.<\/p>\n
He said the company's net sales had risen to Rp 168 billion in
\nthe first nine months of this year from Rp 92 billion in the
\ncorresponding period of last year.<\/p>\n
The average price of iodized salt has increased steadily this
\nyear from Rp 1,327 a kilo in the first quarter to Rp 1,352 in the
\nsecond quarter and to Rp 1,364 in the third quarter.<\/p>\n
The company says the price of its raw materials have
\nstabilized in the last six months at Rp 112 a kilo, compared to
\nRp 110 a kilo in the first quarter of this year, and around Rp 70
\nin the fourth quarter of last year.<\/p>\n
Ernas said the company sold a record 15,365 tons of salt in
\nOctober. The company sold 43,490 tons in the third quarter this
\nyear and 42,940 tons in the second quarter.<\/p>\n
Ernas said better margins also helped push up profits. He said
\noperating margins had improved when the firm acquired a
\ndistributor, PT Fiskarindo Niaga Abadi, early this year.<\/p>\n
The company has just opened a new production line with a
\nproduction capacity of 172,00 tons a year.<\/p>\n
\"Therefore, our production capacity stands at 345,000 tons per
\nannum. We also expect the new line's production will give a two-
\nmonth sales contribution to our 1996 total sales,\" Ernas added.<\/p>\n
Fiskaragung, based in Gresik, East Java, is the country's
\nlargest producer of iodized salt. State-owned PN Garam, its main
\nrival, has a production capacity of around 30,000 tons a year.
\n(alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/fiskaragungs-profit-increases-by-310-1447893297",
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